Economics stories from Noozify's own reporting.
The 10-year Treasury yield just had its biggest one-day jump in a year and a half, to a level last seen in 2007. Four pressures hit at once, and mortgages, business loans, stocks, and the federal budget are all being repriced.
Companies will spend $2.59 trillion on AI this year, and productivity has barely moved. Economists have seen this before, with computers in 1987 and electricity a century earlier, and history says the payoff depends on redesigning the factory.
Friday's payroll figure will move markets within minutes. It is also a preliminary estimate built from about two-thirds of the survey responses, carrying a margin of roughly 120,000 jobs, and scheduled to be revised twice before next year's benchmark resets it again. The revisions are not the scandal. They are the system working as designed.
Every central bank on Earth defends a 2% inflation target as if it were a law of nature. It began as a New Zealand finance minister's offhand remark on a 1988 TV broadcast — the Reserve Bank governor later admitted the figure was "plucked out of the air." How an improvisation became the world's monetary constitution, and why nobody can change it now.
A flesh-eating parasite returned to Texas cattle in June after a six-decade absence and quickly became an easy explanation for record beef prices. The evidence points elsewhere. The more consequential story began years ago, when ranchers started shrinking the national herd — and rebuilding it will initially tighten supply further.
Everyone expected China to panic when the Strait of Hormuz closed. Instead it stopped buying oil — imports fell 32% in a single quarter — and the satellites watching its storage tanks still can't account for where two million barrels a day of demand went.
Three Fed officials just dissented in favor of a rate hike at the same meeting — the first time that's happened since 2016. Chair Kevin Warsh says that's not a crisis. He says it's the design working.
A reserve born from a 1973 fright is being tested as never before. As the Strait of Hormuz hangs in the balance, the salt caverns of the Gulf Coast are finally being asked to be exactly what they were built to be.